Nvidia posts record revenues

Highest profits for three years, too

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Nvidia last night posted a record quarterly revenue and the highest net income the company has seen in three years.

For the three months to 1 May 2005 - or Q1 FY2006 - Nvidia notched up $583.3m in sales, three per cent up on the previous quarter and 23.6 per cent up on Q1 FY2005.

Net income came to $64.4m (36 cents a share), Nvidia's highest quarterly profit since Q1 FY2003's $83.2m, reported back in May 2002. Q1 FY2006's total was 34.2 per cent up on the previous quarter and 202.4 per cent up on the year-ago quarter.

Nvidia's quarterly earnings and revenue figures both beat analyst expectations, based on Thomson Financial averages of 28 cents a share and $581.2m, respectively.

"We have solidly returned our company to growth," said Jen-Hsun Huang, Nvidia's president and CEO. ®